Try <a href="http://www.askobid.com/ForexTradingTL?tlid=54431">AskoBid</a> they are a 5 digit MT4 dealer that accept clients from the USA and all around the world, they're licensed & regulated, they allow hedging, all EA's plus have good leverage, I've also found them to have really tight spreads as well.
Wow...I thought you were mainly a pairs trader....welcome over here in the Wild West of Forex.. I will check out Askobid ES
The quotes on their website shows 4-digits...I am going to try their live chat facility...and verify the 5 digit MT4 and I will report back... I do not think they are there... I will go ahead and try to download the mt4 now and see... I now have their MT4 (I am not sure if it is only a 21-day demo though) and I see 5-digits on EUR/USD...I will now test this EA that I have... to see if it works Everything seems to function..Thank-You ES
Yes, mostly pairs here, but this year I've ventured more into FX, just diversifying my eggs. Yeah I think they advertise the spreads from their web platform on their site, but as you can see, the spreads in MT4 are pretty tight, I'm looking at 1.5 pip spread on eurodollar now in early asian session. Also apart from allowing all EA's, hedging, leverage, etc.......they also guarantee no slippage, unlike most other brokers who don't offer this, i think these guys are looking to attract serious auto traders who do size. Anyway they're much better than US brokers who are now at a competitive disadvantage thanks to regulators. I reckon foreign brokers will dominate the industry within 2-3 years because of the draconian measures implemented by US authorities. Your thoughts ES?
johnnysharp, Thank you for taking the time to post. I have found your posts most excellent in the past. I am afraid to send substantial amounts of money to Cypress with one dealer...but I agree with what you say about this delaer thus far. I will need to spread some money accross several dealers I guess and this seems like one of them..(Tadawul would be another one). Don't you think it would be really neat to share EA's here in ET?...I am thinking about starting an EA thread. For those of you that do not know...EA=Expert Advisor. This is automated code for Forex written by freelance coders for MT4. ES
Thanks ES, yeah I understand your concern with sending big money abroad, but id think you'd be surprised at the level of capital requirements, reporting and compliance these brokers have to adhere too aswell, although I do have several different a/c's to quell my concerns, but at the end of the day, brokers make more money from being honest and keeping you as a client for several years, not stealing, I know it never use to always be like this, however you too would have noticed in the last 2 years a big "cleaning" up of the industry, more transparency, tighter spreads, more competition, has given the avg fx trader a much more level playing ground, I remember when I first started trading fx online in 2003, 3 pips on the eur/usd was considered good and often you got filled 2, 3 or I think my worse was 35 pips away from the b/a, re-quotes/slippage galore and the worry about brokers solvency, thank god the industry has moved in the right direction, i think it's because traders spoke with their feet, moved funds to more honest and licensed brokers thus creating this shift, FXCM caved in a few years ago ditching their dealing desk which I think marked the turning point, the industry has mostly turned away from generating profits from non-hedging and moved to a commission-based model which is better for everyone in the long term. I think some of these smaller jurisdictions like cyprus are going to get a lot bigger, there's quite a few forex brokers there, because of lower tax structures, no heavy breathing down their necks from strict US authorities and ability to offer everyone leverage/hedging/etc....... for eg...FXDD(US based broker) has moved a big part of its operations to Mauritius I think for same reasons, US regulators have shot their own in the foot again, similar to the auto industry, they're exporting the competitive advantage abroad, it's a global economy and one big country online in the digital world, so a brokers geographical location i think will become of less importance and just like everything else capital will find its way to the most efficient areas, i.e.....foreign brokers imo. Yes, I agree, an EA thread would be great, this area of FX doesn't get much attention here, not sure why, it's a very interesting space. I would definitely be a regular contributor if you started a EA thread and I'm sure there's quite a few other auto fx traders here that would chime in.
OK...I was thinking about a subforum...I will check with the dictator☺ It's traders like you that bring so much information to the community..that we need more of... Thank you again... ES
An EA sub forum would be ideal, hopefully Baron see's the potential here too as EA trading is the fastest growing segment of online trading, i'm sure he wouldn't have too many troubles finding a sponsor either. Glad to chime in, I've learnt a lot from these boards over the years so helping others just comes naturally, us online traders have to band together sometimes. Looking forward to a EA discussion board!
I just wanted to report that I received a phone call from AskoBid, which is rare. I only opened up a demo MT4 account and did not register yet for a live account. The fellow that called spoke very good English and confirmed that they do accept US clients. I could not talk long as my other phone rang and I had to go. These folks seem to be serious ES